I now add some bold to what I had said in post 875 as you seem to have missed it: "when it comes to making major long-term investments. They are centrally planned. High capital cost things like high-speed rail, new ports, the N/S water transfer project, new cities, subways, dams, power plants. etc." Yes if you want to open a shoe factory, etc. which will be returning income in a couple of year and are not able to fund it, it helps if you are well connected politically in China. But I spoke of major capital investments with decades before there is income return on their invested capital. For example, the NS water transfer project started in mid 1950s, cost 62 BILLION dollars, and only now (2015) is delivering water to the greater Beijing area. - US can not do anything like that, as Congressional funding would be required and Congress men must run for reelection. Need to show their voters some benefit before they die or retire. It moves slightly more than half the Nile's annual flow more than 1000 miles! For 1/3 that cost and in only three of so decades California could have fresh water to spare from Washington State's excess that just flows, unused into the Puget Sound. Same is true of the 17,000 Km (and still growing) of high speed rail and a few hundred high speed trains (including a few dozen of the four generation locomotive's - for world's fastest trains, moving at least three times more passenger miles than domestic airplanes do, with much less energy use and pollution, and ticket prices about 10% of the airplane ticket price. AFAIK, Columbia MD, where I lived for ~30 years, is the ONLY new city* in the US, with population of > 100,000 that private industry has built - The Rouse Company, which also re- did Baltimore's Harbor area. You claim Private industry can do these high capital cost (say > a billion dollars) long term ( three decades or more) That Congress can not do for reasons given above. Can you name even one? * Some company tried to make such a new city near Dulles Airport, VA (Reston, I think it was called) but it went bankrupt, twice. Now, AFAIK, it is just a developed suburban area of Washington DC, indistinguishable from other nearby communities, but I could be wrong as my information is nearly three decades old.